Takeda Signs an Exclusive License Agreement with Ovid for Soticlestat to Treat Dravet Syndrome and Lennox-Gastaut Syndrome

Shots:

• Ovid to receive $196M as up front and an additional $660M as development, regulatory and sales milestones along with royalties and up to 20% on sales of soticlestat. The agreement is expected to close by end of March 2021
• Takeda to get all global rights to soticlestat and will be responsible for further WW development and commercialization and Ovid will no longer have any financial obligation to Takeda
• In Aug 2020, the company reported results of P-II ELEKTRA study that showed a reduction in seizure frequency in children with DS and LGS. Takeda plans to initiate a P-III study in children and adults with the same indication in Q2’21

Click here ­to­ read full press release/ article | Ref: Takeda | Image: The Boston Globe